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    • Mardrew
    • By Mardrew 1st Oct 06, 8:44 PM
    • 470Posts
    • 457Thanks
    Best bank account for a 16 year old
    • #1
    • 1st Oct 06, 8:44 PM
    Best bank account for a 16 year old 1st Oct 06 at 8:44 PM
    Official MSE Insert:

    If you've arrived from Google, our Best Bank Account or Best Children's Savings guides may help you.

    Back to the original post...

    I hope I've posted in the right thread but feel free to move.

    My 16 year old son needs to open a bank account fairly quickly. I was just wondering which one was the best.

    We have a HSBC, Barclays & Halifax all close by all with ATMs.

    Many thanks in advance for any advice/replies.
    Last edited by Former MSE Zorica; 16-01-2014 at 12:58 PM.
Page 1
  • fabwitch
    • #2
    • 1st Oct 06, 9:07 PM
    • #2
    • 1st Oct 06, 9:07 PM
    My 15 year old daughter has just opened a bank account with the Abbeynational, she has a ATM card which she can use in any link machine.It was quick and easy to open
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  • anguk
    • #3
    • 1st Oct 06, 10:28 PM
    • #3
    • 1st Oct 06, 10:28 PM
    My son started off with a Halifax cardcash account, you get an electron card which is handy for the shops and saves having to carry large amounts of cash around. You can manage the account online, it pays interest on the balance and you can apply online.
  • Shamlay
    • #4
    • 4th Oct 06, 4:07 PM
    • #4
    • 4th Oct 06, 4:07 PM
    We've had an absolute nightmare trying to open an account for my 16 year old son. The major problem has been ID requirements. Although he's got a pass-book account with one of the building societies, they won't change / transfer him to a card account without proof of ID and address..... daft, or what??? His passport has recently run out and is in the process of being renewed, but that doesn't help us here and now - he's just landed a full time job and needs the account to have his wages paid into. He doesn't have a driving licence (I put my foot down on the moped 'want'). He doesn't have any utility bills in his name (now there's a surprise!), or a credit card bill (if he did have, we wouldn't have needed the bank account in the first place!!). The only paperwork we have that shows our home address linked to his name is a letter from the Child Benefit people and the letter that his National Insurance card was attached to...... neither were deemed appropriate! We then tried linking him to me (I have accounts dotted all over the place!)..... his birth certificate shows my previous married name, my current marriage certificate also shows my previous married name - but not my current married name! At this point in each of the banks / building society's we've been to in the last 3 weeks I've thrown a hissy fit!

    I fully understand why ID checks need to be made with regard to money laundering etc, but it's made it damned near impossible for a teenager (and I dare say some adults) to open a bank account.

    Bearing in mind the new Ageism laws, I wonder if some of the ID requirements for opening a bank account are discriminatory towards the younger population? I certainly think the age bands on the minimum wage are open to challenge..... but that's another story, and I'm too old to challenge it!!

    And we still haven't managed to open a bank account
    • Anastasia
    • By Anastasia 19th Oct 06, 2:51 PM
    • 285 Posts
    • 112 Thanks
    • #5
    • 19th Oct 06, 2:51 PM
    • #5
    • 19th Oct 06, 2:51 PM
    We are about to open an account for our 16 year old and he will have the same bank as ours. The thinking being that if he ever needs money in an emergency away from home it will be quicker to transfer from our account to his.
  • Kelly_welly_dudelle
    • #6
    • 4th Jul 07, 6:47 PM
    • #6
    • 4th Jul 07, 6:47 PM
    I'm 16! I need a high interest account to put money into an account! Any advice ppl?

    K xxx
  • buxtonrabbitgreen
    • #7
    • 4th Jul 07, 10:48 PM
    • #7
    • 4th Jul 07, 10:48 PM
    Well HSBC might not be the best bank but as I bank there I opened accounts for my 2 when they were quite young and being given a free safe for opening an account. As the years have gone by thier accounts have been updated and now as teenagers they have both been given card cash accounts with solo type cards, so they can use them to spend on the internet and in shops etc. Well they would be able to if they ever had any money in them. This is not much help if your child is already 16 with no account, but may be useful to those with younger children.
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    • Alikay
    • By Alikay 4th Jul 07, 11:21 PM
    • 4,766 Posts
    • 12,871 Thanks
    • #8
    • 4th Jul 07, 11:21 PM
    • #8
    • 4th Jul 07, 11:21 PM
    We are about to open an account for our 16 year old and he will have the same bank as ours. The thinking being that if he ever needs money in an emergency away from home it will be quicker to transfer from our account to his.
    Originally posted by Anastasia
    We chose Barclays for our 16 year old son for the same reasons: we transfer his pocket money online, and it's available to him instantly. Works the other way when he owes us money too!
    • chickalittle
    • By chickalittle 5th Jul 07, 11:34 AM
    • 187 Posts
    • 96 Thanks
    • #9
    • 5th Jul 07, 11:34 AM
    • #9
    • 5th Jul 07, 11:34 AM
    I have just opened a bank account with HBOs for my 16 year old. I had to provide my most recent council annual tax statement (not the reminder!) and provide a letter confirming that my son resided at that address. Luckily I also have a mortgage with them so that made it easier. He did need to provide his NI card details and passport. If there isn't a current passport not sure what you can provide in it's place - maybe a letter from his school?
    We went for HBos because it gave him an electron card.

    I honestly don't know how people manage to fraudently open bank accounts!!
  • TheWaltons

    Have you tried a Co-Op cashminder account? You can contact them on the phone, they will send it all out to you in about a week and they didn't verify my identity.

    You can withdraw at all cash machines, pay money in via the PO and also withdraw at a PO.

    You can also set up standing orders and DD, plus you get a VISA Electron card - only thing not available with this account is a Cheque book, which I am sure your son would not need anyway.

    I have managed to use an expired Passport in branches in the past, for ID.
    • ktb
    • By ktb 5th Jul 07, 11:56 AM
    • 474 Posts
    • 741 Thanks
    Stuff like the problems mentioned on here does make me think that compulsory I.D cards like they have in Europe are a really good idea - but I know plently of people think they are an infringement of civil liberties. Passports & driving licenses are not only expensive and can be difficult to organise but they have specific functions and not everyone needs or wants them.

    If you have nothing to hide I dont see the problem in having a legally acceptable card with your ID on it that everyone is given at 12 or something :confused:

  • borderlakland
    i agree with you ktb if you have nothing to hide whats the problem.
    my ds1(almost 14)was recently refused the sale of a 12 cert ps2 game in a well known supermarket he does look youngish for his age and i know supermarkets etc can't risk selling to underaged kids(i know i work in one) but when they asked about id i asked what would you accept from a 13 yr old?they had no far as i know only poss thing would be a passport(he hasn't got 1)if he did how many people let alone kids carry their passport round when shopping.
    think 12 would be a reasonable age for them to be issued as lots of age restricted goods start at 12(dvd's, games and getting into the cinema etc)
    Lead us not into temptation...

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